Lachlan Murdoch Buys 149,934 Shares of FOX (NASDAQ:FOXA) Stock

Fox Corporation (NASDAQ:FOXA) CEO Lachlan Murdoch purchased 149,934 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were acquired at an average price of $68.53 per share, with a total value of $10,274,977.02. Following the purchase, the chief executive officer owned 1,401,713 shares in the company, valued at $96,059,391.89. This trade represents a 11.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

FOX Stock Performance

NASDAQ FOXA traded down $1.41 during trading on Wednesday, reaching $66.16. The company’s stock had a trading volume of 4,579,313 shares, compared to its average volume of 4,793,313. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.99 and a current ratio of 3.17. The firm has a market cap of $27.76 billion, a price-to-earnings ratio of 17.27, a P/E/G ratio of 1.23 and a beta of 0.55. Fox Corporation has a twelve month low of $48.34 and a twelve month high of $76.39. The business’s fifty day moving average price is $62.46 and its 200-day moving average price is $61.09.

FOX (NASDAQ:FOXA) last announced its earnings results on Thursday, August 6th. The company reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.35. FOX had a net margin of 9.84% and a return on equity of 20.64%. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same period in the prior year, the company earned $1.27 earnings per share. The business’s revenue was up 28.1% compared to the same quarter last year. As a group, analysts anticipate that Fox Corporation will post 5.94 EPS for the current fiscal year.

FOX Announces Dividend

The business also recently declared a dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd will be paid a dividend of $0.29 per share. This represents a dividend yield of 86.0%. The ex-dividend date is Wednesday, September 2nd. FOX’s dividend payout ratio is 15.14%.

Analysts Set New Price Targets

A number of research firms recently weighed in on FOXA. JPMorgan Chase & Co. upgraded shares of FOX from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $70.00 to $82.00 in a research report on Friday, August 14th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $80.00 price objective on shares of FOX in a research report on Friday, August 14th. Guggenheim restated a “buy” rating and issued a $85.00 target price on shares of FOX in a research note on Tuesday, August 25th. Barclays lowered their target price on shares of FOX from $67.00 to $60.00 and set an “equal weight” rating on the stock in a report on Monday, June 15th. Finally, Wall Street Zen upgraded shares of FOX from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Ten equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $76.35.

Institutional Investors Weigh In On FOX

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Talon Private Wealth LLC grew its holdings in FOX by 6.1% during the 2nd quarter. Talon Private Wealth LLC now owns 48,390 shares of the company’s stock valued at $2,524,000 after buying an additional 2,771 shares during the last quarter. Junto Capital Management LP acquired a new position in shares of FOX in the second quarter worth $34,773,000. The Manufacturers Life Insurance Company lifted its position in shares of FOX by 11.0% in the second quarter. The Manufacturers Life Insurance Company now owns 118,135 shares of the company’s stock valued at $6,162,000 after acquiring an additional 11,669 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of FOX by 1.1% in the second quarter. Sequoia Financial Advisors LLC now owns 35,335 shares of the company’s stock valued at $1,843,000 after acquiring an additional 389 shares in the last quarter. Finally, National Pension Service boosted its stake in shares of FOX by 50.6% during the second quarter. National Pension Service now owns 71,860 shares of the company’s stock valued at $3,748,000 after acquiring an additional 24,154 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a media and entertainment company formed in 2019 following the separation of certain assets from 21st Century Fox. The company operates a portfolio of news, sports and entertainment brands focused primarily on the United States, with select services and programming available internationally.

Fox’s businesses include FOX News Media, which operates FOX News Channel, FOX Business Network, FOX News Digital and related subscription and streaming services. Its sports operations include FOX Sports, FS1, FS2, FOX Deportes, the Big Ten Network and sports programming distributed through digital platforms.